The second most popular blockchain, Ethereum’s development activity on Github has risen to a 7-months high. This was noted by the crypto analytic platform Santiment, which stated that the network continued to make its case as the “most highly innovative network” in the space, including many ERC-20’s under its umbrella.
Digital asset values increased considerably following the market crash of Black Thursday in March. Although Bitcoin, along with its peer altcoins, had a very slow recovery, it was Github’s development activity that remained unfaced by the direction of price movements of the underlying assets.
Meanwhile, the recent news comes as Ethereum’s price, swiftly gaining a major rebounce, was currently flirting with the coveted resistance level of $400.
The most awaited launch of Ethereum 2.0
The launch of Ethereum 2.0 is no more a moving target. The community has been anxiously anticipating one of the most crucial events in the space – the 2.0 launch. And it could finally be launched as early as November.
Initially, the launch was slated for July this year. But the operations were not as smooth as it was earlier presumed. In addition, the subsequent upgrades turned out to be more complex. Hence, the recent news of a potential timeline of the launch could be another boosting factor for the surging development activity on Github.
Ethereum 2.0 to launch in November 2020https://t.co/MuCJpVgf6H
— Unfolded (@cryptounfolded) September 12, 2020
Chasing the DeFi dream
The largest altcoin, Ethereum has witnessed its price surge significantly and behind the scenes, it is the DeFi ecosystem which has been one of the most crucial contributing factors in pushing not just the value of the underlying asset but also the development activity on the projects built on top of the ETH network.
More than 3 million Ether is locked in DeFi protocols. The fact that a vast majority of DeFi is housed on the Ethereum blockchain and the development on the front was perhaps responsible for the spike.